Buffalo Bills

NFL OKs Buffalo Bills' Ralph Wilson Stadium lease

ORCHARD PARK, N.Y. -- The NFL has approved the terms and conditions of the Buffalo Bills' recently negotiated 10-year, $271 million lease that includes significant upgrades to Ralph Wilson Stadium.

The approval was granted by NFL owners at league meetings held in Phoenix on Monday, and announced by Bills president Russ Brandon.

Brandon called the decision "another important step" in the process to allow $130 million in stadium renovations to begin this year. The final step is for the lease to be approved by New York State and Erie County governments, which Brandon anticipates will come within a few weeks.

State and county taxpayers would be on the hook for $226.8 million over the 10-year period.